Twitter is going to give Musk an employee meeting

Twitter CEO Agravar sent an email to all employees today saying that a Town Hall Meeting is about to be held, inviting musk, the company's new director, to meet with the company's employees and answer some questions that employees care about.

Agravar said in an email that the meeting would set up an AMA (anything is possible). He wrote, "Many of you have all sorts of questions about Musk, and I welcome you to ask him these questions. ”

The exact timing of the rally has not yet been determined, but it was apparently held online. Musk just hosted the commissioning ceremony of the Texas Gigafactory in Austin, Texas, yesterday. Tesla's headquarters also moved to Texas last year, but there is also an R&D center and a Fremont factory in Silicon Valley.

Tesla CEO Musk disclosed to the U.S. Securities and Exchange Commission (SEC) this week that he has spent $2.64 billion since the end of January to buy 73.5 million ordinary shares of Twitter, and has now reached 9.2%, becoming Twitter's largest shareholder.

Musk is the most influential non-entertainment influencer on Twitter, he has used Twitter since 2009 and currently only posts content here, with more than 80 million followers. As a loyal user, Musk has many complaints and dissatisfaction with the Twitter platform, has his own ideas about specific functions, and has different opinions on content moderation policies.

Just a day later, Twitter officially announced an invitation to Musk's 11-member board until 2024. Agravar described Musk as a "passionate believer and candid critic of platform services," which is exactly what Twitter's board needs to drive the platform's long-term growth.

This is actually a strategy for Twitter's board of directors. Because in exchange, Musk agreed not to increase his stake in Twitter by more than 15% during his tenure as a director, nor to acquire a controlling stake in Twitter.

As long as Musk wants, he can easily increase his stake until he gains a controlling stake. Twitter's current market capitalization is only $40 billion, while Musk's personal assets exceed $270 billion.

Twitter's shareholding structure is fairly fragmented, and there are no super voting rights. Vanguard and Morgan Stanley, the two major investment institutions, hold 8.4% and 8.1% stakes in Twitter, respectively, ranking second and third. Co-founder Jack Dorsey holds 2.25% of the shares and is the seventh-largest shareholder. That means Musk can easily buy Twitter stock in the open market and thus take a controlling stake if he wants to.

However, Musk did not sign the consent of other directors to "not interfere in the company's decision-making", meaning that he may directly affect Twitter's future direction in the future. Twitter officials said that Musk will not interfere in daily operations, and his tweets will not have special treatment and will be treated equally according to the rules of the platform.

At the end of November, Jack Dorsey announced his resignation as executive chairman and CEO, and Agravar, the 37-year-old CTO, became CEO. To leave room for reform for the new CEO, Dorsey also announced that he would invite Saleforce co-CEO Bret Tylor to become independent chairman, and he plans to step down from Twitter's board this year. Dorsey will focus on its other publicly traded company, Block (previously Square).

It is widely believed that Musk's entry into Twitter's board of directors will promote the development and deployment of product functions of this social media platform and accelerate the process of Twitter's public algorithms and decentralization, but many people are worried that he will pressure Twitter to relax content regulations, thus triggering new controversy for the platform.

Late last month, Musk publicly accused Twitter of strict content controls that were inconsistent with free speech. He had become Twitter's largest shareholder at the time, but did not announce it in time. This is also another violation of the SEC's timely disclosure requirements.

In the past few years, Musk has repeatedly clashed with Democrats in terms of plutocratic taxes, epidemic prevention and control, corporate governance, and freedom of speech, and he has sold out his California real estate and moved to Texas, where the Republican Party is dominant, with Tesla headquarters.

But Twitter is headquartered in San Francisco, where there are more than 5,000 employees, and liberals dominate the absolute, and there have even been incidents of liberal employees "misoperating" and banning Trump's accounts. If Musk pressures Twitter to deregulate content and allow more disinformation about the pandemic and incites social divisions, it will inevitably trigger a boycott by Twitter employees and regulatory pressure from the Democratic Party.

This is also the biggest concern about Musk after he joined Twitter. After he became Twitter's largest shareholder, many conservative lawmakers have publicly called on Musk to reverse Twitter's political biases and even welcome back former President Trump, who was deposted for inciting the Capitol Hill riots. But Musk did not respond for the time being.

Some Twitter employees have expressed concern about musk's possible change in corporate culture and the platform's content policies. It is conceivable that at this civic rally, Twitter employees will definitely ask Musk to further express his attitude on related issues. Unlike Tesla, which emphasizes execution and efficiency, Twitter belongs to the typical Silicon Valley Internet company, with a corporate culture that emphasizes equal communication and gives employees more decision-making power.

Source: Sina Technology